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When excluding those who only played lottery draws, participation stood at 28%, implying lottery-only players comprised roughly 21% of the adult population.
Online gambling participation over four weeks reached 39% (16% excluding lottery-only players), while in-person gambling participation was 29% (18% excluding lottery-only players).
Top non-lottery activities during the period included scratchcards (13%), betting (10%) and online instant win games (8%).
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“The decision we made today was the right decision to deliver on the remit that Congress gave us to ensure stable prices… Some months ago I said we will deliver stable prices, today’s action is consistent with that,” Warsh said at the Fed press conference.
For the gaming industry, the marked economic shift over the course of 2026 and a return to an elevated interest-rate environment after years of post-Covid easing could dissipate some of the optimism that prevailed at the onset of this year.
Many top gaming stocks have underperformed relative to the broader market in recent years, and most of the M&A activity has been facilitated by private equity and other institutions that can more readily capitalise on depressed valuations. There had been hope that rates would start to fall and help alleviate those pressures.
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Its findings contained an all-too-familiar combination of ineffective systems, delayed interventions and inadequate source-of-funds controls. One customer placed approximately 4,800 bets in one day and 7,000 the next without being flagged. Another, whose payslips showed monthly earnings of about £2,000, deposited and lost £9,000 in four days.
“What is striking here is the level of activity that apparently failed to trigger effective intervention,” Williams says. “These were obvious indicators requiring further scrutiny, and it is difficult to understand why they did not result in more effective intervention.”
He adds that the recurring weakness is often not an absence of policies but a failure to ensure “technology, algorithms and operational processes actually work in practice”. Some of the QuinnBet issues followed a platform migration, underlining the need to retest controls whenever systems change.